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H
HomeStayr
April 9, 2022
Question

Edit Opening Bank Balance

  • April 9, 2022
  • 1 reply
  • 0 views

When we activated our QB Account we connected it to an already existing bank account. QB pulled the opening balance from the Bank but the amount was incorrect. QB coded the beginning balance as a payment instead of a deposit so it looks as though we started with a negative bank balance; however, we started with a positive balance. I cannot edit the transaction on the register because it is coded as payment and I need it coded as a deposit. How can I change the Opening Bank Balance amount if this is the case? Thanks in advance!

1 reply

L
LeizylM
April 9, 2022

Hi there, 

 

I'm here to make sure you'll be able to change the opening bank balance in QuickBooks Online.

 

You can edit the opening balance and the date by going to the Gear Icon. This resets the starting point for the account so QuickBooks doesn't count transactions twice.

 

If QuickBooks Online's beginning balance doesn't match your bank statement, you can follow the steps in this article to fix the discrepancy: Fix an opening balance to match a bank statement.

 

You can read through these articles to learn more about managing your open balance in QuickBooks:

 

 

You may also consider checking with your accountant for guidance, for them to check the root cause of this issue.

 

Feel free to reply to this post if you have additional questions. I'll be here to help.

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